It seems Gary Barnett has finally triumphed in his nine-year effort to buy two loft buildings in Noho for $11 million, according to public records filed with the city today. Barnett’s Extell Development closed on the buildings, at 734 Broadway and 736 Broadway, last week, the filing shows.
For the past six years, Extell’s acquisition of the buildings has been stalled by infighting between the owners. Brothers Aaron, Ruben and Mordechai Muschel, who were willed the property by their father William Muschel, had been battling over the modest portfolio since their fathers’ death in 2001.
As The Real Deal previously reported, Barnett signed a $13 million contract to buy the two loft buildings in 2002. … [more]